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The Standard & Poor’s 500 Index may decline to around 750
before further gains in July, Faber, 63, said in a Bloomberg Television
interview in Singapore. That’s a drop of 10% from yesterday’s close.
Stocks in the US and other global markets are unlikely to fall below
their October and November lows, he added.
“After the rally since March 6, we need some kind of correction,
maybe around 5 to 10%, and after that we can maybe rally more into
July,” said Faber, the publisher of the Gloom, Boom & Doom report. “The economic news, while it won’t be good, the rate of getting worse will slow down.”
Faber on March 9 advised investors to buy US stocks, saying
government actions will boost equities. The S&P 500 has since
rallied 25% from a 12-year low through last week, the steepest rally
since 1938, as rising home sales and durable- goods orders signal a
bottoming in the US economy. Gains may be halted by unemployment,
consumer debt and concern banks will be forced to write down more loans.
Faber told investors to abandon US stocks a week before 1987’s
so-called Black Monday crash and said in August 2007 that US shares
were entering a bear market. The S&P 500 peaked at 1,565.15 in
October of that year before retreating as much as 57%.
Centaur ( Date: 16-Apr-2009 09:51) Posted:
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2morrow shortists wud probably get more burnt.
Centaur ( Date: 16-Apr-2009 09:51) Posted:
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As far as I know, generally speaking, Shortist is not ready to pay the share but ready to pay the loss, while Longist is ready to pay the share but not ready to pay the loss, hence, they have paper loss and hold when the price down against him/her.
I do not think shortist will mind at all about the loss, as they are used to it, either gain or loss.
Centaur ( Date: 16-Apr-2009 09:51) Posted:
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every dog has its' day. Currently, the tide is against the shortists but you'll never know how the market will fare tmr or even this afternoon. Then again, in the meantime, let's enjoy the ride up 